Home / Knowledge / News / Apparel/Garments / Wolverine's net income falls 7.99% last fiscal
Wolverine's net income falls 7.99% last fiscal
25
Feb '16
Courtesy: Wolverine Worldwide Inc
Courtesy: Wolverine Worldwide Inc
Wolverine, a US based apparel and accessories supplier, reported a fall of 7.99 per cent in its net earnings to $123.2 million in the fiscal year ending on January 2, 2016 as compared to $133.9 million in the fiscal year ending on January 3, 2015, according to a press statement released by the company.

Diluted EPS was reported to be $1.20 in this period as compared to $1.30 in the corresponding last fiscal, a fall of 8.33 per cent.

Operating profit was reported at $201.1 million as compared to $229.9 million, a fall of 14.32 per cent.

The revenue for this year was $2,691.6 million as compared to $2,761.1 million, a fall of 2.51 per cent.

Commenting on the results, Mike Stornant, senior vice president and chief financial officer of Wolverine said, “This last quarter was incredibly volatile for the whole industry as global economic pressures worsened, holiday sales were tepid and unseasonably warm weather impacted many regions. We foreshadowed these challenging conditions in mid-September.”

“Since early September, we’ve made important leadership and organisational changes focused on fixing under-performing areas of the business. We are confident we are well-positioned to navigate the challenging global landscape in front of us,” he added. (MCJ)

Fibre2Fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.8%
No
13.0%
Skip
10.1%

Total Votes: 69

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.3%
No
27.5%
Skip
10.1%

Total Votes: 69

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.5%
No
10.1%
Skip
4.3%

Total Votes: 69

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.4%
No
11.6%
Skip
13.0%

Total Votes: 69


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search